Schools out for Summer and retailers rejoice
School holidays boost shopper numbers
Retail pedestrian monitoring company Footfall have released their latest figures. Retail FootFall Index (RFI) – UK National Weekly: Change for week 30 (24th July – 30th July 2006):+6.4%. Change for week 30 year-on-year:- 5.7%
Retail FootFall Index (RFI) – UK Department Store Change for week 27 (24th July – 30th July 2006): +11.1%. Change for week 27 year-on-year: – 3.7%
Week 30 has seen a boost to retailers’ fortunes according to figures released today by Experian company, FootFall. The start of the school holidays and the first breaks in the sweltering heat caused a rise in shopper numbers of 6.4% compared to the previous week – the biggest week-on-week rise since the beginning of July.
Natasha Burton, spokesperson for FootFall, comments, “The start of the school summer holidays traditionally sees an influx of visitors to the high street. This year has been a particularly busy time as the first week of the holiday coincided with the first breaks in the recent heatwave. This meant that people who had been out enjoying the sunshine instead of shopping in previous weeks took advantage of the cooler days to return to the shops, causing even higher footfall levels than we would normally expect at this time.
“Department stores fared particularly well, with a massive increase in footfall levels of 11.3% compared to the previous week. Shoppers are clearly favouring the ‘one-stop-shop’ approach for pre-holiday shopping splurges.
“However, despite the upturn of the last week, the Retail FootFall Index (RFI) indicates that the ongoing underperformance of the retail sector compared to 2005 is largely unchanged. The figures show a disappointing -5.7% year-on-year decrease in shopper numbers across the UK. Department stores may have performed more successfully in week 30 but proved that even they are not immune to the struggles of the retail sector as a whole, with a decrease of -3.7% compared to the same week last year.
“The year-on-year figures suggest that despite the hopes of many retailers, the World Cup and annual July sales have done little to boost consumer spending in the long-term and the morale on the high street remains subdued. It’s not all doom and gloom though, as the school holidays get underway and consumers begin to acclimatise to the hot weather, retailers should hope to see an upturn in the coming weeks.”
